Zurcher Kantonalbank Zurich Cantonalbank Buys 4,040 Shares of First Interstate BancSystem, Inc. (NASDAQ:FIBK)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Interstate BancSystem, Inc. (NASDAQ:FIBK) by 25.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,099 shares of the financial services provider’s stock after acquiring an additional 4,040 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Interstate BancSystem were worth $618,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Altus Wealth Group LLC bought a new stake in shares of First Interstate BancSystem during the 4th quarter worth approximately $265,000. Mutual of America Capital Management LLC lifted its stake in First Interstate BancSystem by 5.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 253,522 shares of the financial services provider’s stock worth $7,796,000 after purchasing an additional 14,111 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of First Interstate BancSystem by 99.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,870 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 2,430 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of First Interstate BancSystem in the 4th quarter valued at $302,000. Finally, Caprock Group LLC raised its holdings in shares of First Interstate BancSystem by 1.8% during the 4th quarter. Caprock Group LLC now owns 24,814 shares of the financial services provider’s stock worth $763,000 after buying an additional 443 shares in the last quarter. 88.71% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Interstate BancSystem

In other news, insider Lorrie F. Asker sold 1,921 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total transaction of $50,042.05. Following the completion of the transaction, the insider now directly owns 6,909 shares in the company, valued at $179,979.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other First Interstate BancSystem news, EVP Karlyn M. Knieriem sold 2,900 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $26.76, for a total transaction of $77,604.00. Following the completion of the sale, the executive vice president now directly owns 20,599 shares in the company, valued at approximately $551,229.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Lorrie F. Asker sold 1,921 shares of First Interstate BancSystem stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $26.05, for a total value of $50,042.05. Following the completion of the transaction, the insider now directly owns 6,909 shares of the company’s stock, valued at $179,979.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,531 shares of company stock worth $197,645. Insiders own 6.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on FIBK shares. Keefe, Bruyette & Woods lifted their target price on First Interstate BancSystem from $28.00 to $29.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Piper Sandler lifted their price target on shares of First Interstate BancSystem from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company boosted their target price on shares of First Interstate BancSystem from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Stephens reiterated an “overweight” rating and issued a $32.00 price target on shares of First Interstate BancSystem in a research note on Thursday, April 25th. Finally, TheStreet downgraded First Interstate BancSystem from a “b-” rating to a “c+” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, First Interstate BancSystem currently has an average rating of “Hold” and a consensus target price of $30.20.

First Interstate BancSystem Trading Up 2.8 %

FIBK opened at $27.46 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.77 and a quick ratio of 0.76. First Interstate BancSystem, Inc. has a fifty-two week low of $20.81 and a fifty-two week high of $32.54. The company’s 50 day moving average price is $26.15 and its two-hundred day moving average price is $26.76. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.94 and a beta of 0.87.

First Interstate BancSystem (NASDAQ:FIBK) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.04. The company had revenue of $252.30 million for the quarter, compared to analysts’ expectations of $254.50 million. First Interstate BancSystem had a net margin of 18.04% and a return on equity of 8.55%. As a group, research analysts predict that First Interstate BancSystem, Inc. will post 2.18 earnings per share for the current year.

First Interstate BancSystem Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.85%. First Interstate BancSystem’s dividend payout ratio (DPR) is presently 74.90%.

About First Interstate BancSystem

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. It offers various traditional depository products, including checking, savings, and time deposits; and repurchase agreements primarily for commercial and municipal depositors.